My mother has always been a great example of fiscal responsibility. She would often say, “Anita, control your money, don’t allow it to control you.” It reminds me a lot of the famous quote penned by P.T. Barnum, “Money is a terrible master, but an excellent servant.” My mom taught me by example this principle …
Interest
If you have ever been in debt, especially debt with a high interest rate, you know that it is not fun. Everyday you are losing money by owing it. An unfortunate fact of life is that it costs money to owe money. Further, debt and interest never take a break. They never sleep, never take …
Two and a half years ago, I was looking at the amortization/debt schedule of my dream home that I was about to buy. It was mind boggling how much money my family would pay in interest over the course of a 30 year loan! Even at the pretty low interest rate we had secured we would end up paying $134,739.01 in interest. That is …